Chapter 20: The Unexpected Windfall
by xennovel“Chairman, in whose name did you register this land?”
“Whose name do you think? Do-jun’s, of course. Why? Is it the inheritance tax?”
“Your expression puts me at ease, Chairman. Haha.”
“Hey! It’s not like that’s a huge sum! It’s a gift for my youngest grandson, you think I’d try to cheat on taxes?”
His face radiated pure joy.
This wasn’t just the look of someone who’d made a hundredfold profit. It was the face of a man who’d struck gold, a real treasure.
Lee Hak-jae expected the Chairman’s feelings to undergo a significant shift after this incident.
Sharp judgment, bold execution, diverse perspectives, innovative thinking… these qualities made for an exceptional business leader.
But such traits were hard to spot in a 12-year-old like Do-jun. At best one might glimpse their potential.
What Chairman Jin saw in his young grandson was the incredible weapon of luck.
He’d simply pointed at a map of the capital area. To turn a profit a hundred times over from that? It could only be explained by sheer luck.
Skill and effort were no match for heaven-sent fortune.
“So what’s the plan now?”
“What do you mean?”
“With the new city confirmed, there’ll be land compensation and the surrounding area will become prime real estate…”
“That money belongs to Do-jun. I can’t just take it back.”
“Not take it back, but shouldn’t it be managed? It’ll be a huge asset for Do-jun in the future.”
“Me? Why me? He’s the one who multiplied it a hundredfold in just a year. He’s way better at this than I am.”
Chairman Jin waved his hand dismissively.
“Then…?”
Surely he didn’t intend to entrust such a fortune to a child?
Lee Hak-jae was utterly speechless.
“Let’s just teach him the basics and leave him to it. Let’s see just how big his luck really is.”
The ever-calculating Lee Hak-jae had already done the math. The land compensation alone would be at least 16 billion, maybe over 20 billion won.
That was nearly the annual salary of four thousand fresh college graduates.
It might not be a fortune to Chairman Jin, but it was an enormous sum to wager just to test his grandson’s luck.
Did this mean he had expectations equal to the size of this fortune?
* * *
On April 27, 1989, anyone with even a little spare cash rushed to Bundang and Ilsan.
The government’s new city announcement was like revealing a treasure map. It was just a matter of who got there first, land prices were sure to skyrocket and the only question was how high.
Land designated for the new city would receive government compensation, but there was no limit for the surrounding areas. Nobody knew how high those prices would go.
Landowners protested over the compensation, but it was ultimately settled between 110,000 and 700,000 won.
Chief of Staff Lee Hak-jae handled the land matters on behalf of the Chairman’s grandson.
Then he visited Jin Yun-ki’s house with a hefty bankbook in hand.
“Yoon-ki, it’s been a while.”
“Hyung-nim, what brings you all the way out here?”
“What? You don’t look too happy to see me.”
Lee Hak-jae shook hands with Jin Yun-ki, his smile unwavering.
This guy was the only one in the family who called him ‘hyung’. Jin Yun-ki’s brothers treated him like a mere servant.
He was the one Lee Hak-jae felt the most affection and pity for.
“Welcome, Chief of Staff.”
“Your beauty is truly timeless, sister-in-law.”
Lee Hak-jae exchanged pleasantries, then stopped her as she went to set down the coffee.
“Please sit down, sister-in-law. I have something to discuss with both of you.”
His smile fading, the couple seemed a bit tense.
“It’s about Do-jun.”
At the mention of their son’s name, their eyes widened. Lee Hak-jae quickly continued before they could get too worried.
“It’s good news, so don’t worry.”
After reassuring them, he explained about the ranch. It only made them more astonished.
“What? 14 billion? Oh my god! How could such a thing…?”
Jin Yun-ki was speechless with shock, but his wife seemed more bewildered than surprised.
Well, shock and bewilderment often looked alike, so Lee Hak-jae didn’t dwell on it.
She must have known the land was being sold when she handed the deed to Chairman Jin’s secretary, but she probably hadn’t expected such a huge sum.
“That’s the compensation for sixty thousand pyeong. There are still twenty thousand left, estimated to be worth around 10 billion. We plan to sell that later.”
Their eyes grew even wider.
“Anyway, the Chairman gave the ranch on a whim, but it turned into a massive fortune, so he’s very pleased.”
“Hyung-nim, what did my father say?”
“He said it’s Do-jun’s money, so it should be left to Do-jun.”
“That’s ridiculous! He’s just in fifth grade! How can you entrust such a large sum to a child? Just tell him to take it back.”
“Honey.”
His wife quietly grabbed Jin Yun-ki’s wrist, calming him.
Though she didn’t show it, Lee Hak-jae was surprised.
She was always so composed, never drawing attention to herself. To see her seemingly greedy for money was unexpected.
“Why are you so worked up? Just put it in the bank. That’s all a kid can do anyway.”
Lee Hak-jae understood Jin Yun-ki’s fear. Who hadn’t seen lives ruined by money?
Then an unexpected voice spoke, Jin Yun-ki’s ever-calm wife.
“Honey, this money might be all Do-jun ever gets. Father is fond of him now, but you know how fickle he can be. Who knows when Do-jun might fall out of his favor?”
Lee Hak-jae saw sincerity in her desperate expression. It wasn’t greed, but a mother’s unwillingness to let go of what might be her child’s last lifeline.
Jin Yun-ki had never won against his wife. This time was no different.
* * *
“Of course, it’s a huge sum that Do-jun can’t even begin to grasp.”
This guy’s got the wrong idea.
He must think I don’t understand his words, judging by my silence and wide-eyed stare at the bankbook in my hand. But I’m just unfazed because I knew this was coming.
Well…
Realistically, what 12-year-old could grasp the sheer magnitude of this amount?
“So what about my ranch?”
My first question had to sound childlike.
“It has to be cleared, unfortunately. The government needs the land. The horses there can be moved to Jeju or you can set up a ranch somewhere else.”
Just when I was getting into horseback riding… I guess the life of a chaebol’s son ends here.
The seed money for the next stage was secured, so it was time to wrap up the real estate speculation. There was no time to bury money in land and wait patiently.
“What do you want to do with the money?”
Lee Hak-jae’s finger pointed at my bankbook, but his eyes were filled with curiosity. But there was no way I’d reveal my plans just to satisfy his curiosity.
“I was told to save money in the bank.”
Wasn’t that another age-appropriate response?
“Right. Keep it safe in the bank until you’re an adult.”
The word ‘safe’ struck me as ominous.
It sounded like he was saying someone who sought safety and comfort could never be the captain of Soonyang Group.
The current bank interest rate was a whopping 10%.
With compound interest, it would grow exponentially. Doubling it would be a breeze. But I wasn’t a fool who’d be satisfied with a mere doubling.
Lee Hak-jae patted my head once and left.
When his footsteps faded, I took another look at the bankbook.
14 billion!
And there was more to come. In 30 years, this would be worth well over 100 billion!
“Heh, heh…”
I burst into laughter, jumping on the bed like a madman.
I’d seen this in movies, thinking it was over the top, but this reaction was totally real.
I couldn’t stop bouncing on the bed, I was so happy.
“Gasp!”
Sudden footsteps on the stairs.
I scrambled off the bed and dashed to my desk.
I opened a book, pretending to study just as my parents walked in.
“Do-jun, can I have a word with you?”
They’ll surely bring up the money, but how should I steer this conversation? It’s a bit tricky.
Until I become an adult… no, at least until I can shed this ‘little kid’ label, my parents are the only ones who can help me with my long-term plan.
I needed to ask for their help, but it wouldn’t be easy.
“Did you hear everything from Uncle Hak-jae?”
“Yes.”
I held out the bankbook, but my parents didn’t take it.
“What did you say you’d do?”
“I told him I’d put it in the bank.”
They seemed relieved. Maybe they thought they were worried over nothing. What else could a kid do but save it?
“For now…”
My last words made their expressions change. For now?
“For now?”
“Why? Is there something you want to buy?”
“No, Mother buys me everything I need.”
“Then why ‘for now’?”
“Honey, let’s hear Do-jun out. What do you want to do?”
My father smiled, holding my mother’s hand, a gesture to reassure her.
Their eyes turned back to me, and I spoke slowly with a smile.
“Father, and Mother.”
They were fixated on my mouth.
“If… no, not if. What would you like to do with this money?”
My parents were even more shocked than I expected.
Should I have been more careful? Or taken my time to get to know them better?
I was in too much of a hurry, excited about the money.
I just wanted to know what they were thinking…
My father stared at me with a rigid face, then left the room without a word.
My mother let out a short sigh and squeezed my hand.
“Do-jun, your dad’s not mad. He’s just a little surprised.”
He seemed mad to me.
And very surprised.
Not knowing what to say, I lowered my head. My mother stroked my back.
A long silence followed.
To break the awkwardness and ease my mother’s worry, I spoke first. I did have a question.
“Mother.”
“Yes?”
“About that thing I mentioned last time, what happened with that?”
“Hmm? What are you talking about?”
“Ilsan, the new city…?”
My mother’s surprised expression said it all.
Aha! So she did buy some land.
Good. I don’t know how much she bought with her secret stash, but she’ll have a nice sum, more than just emergency funds.
Men and women both feel better with deep pockets. If this brightens her face, all the better.
“Oh… that? No, I didn’t pay it any mind. I already forgot about it.”
“Yes, I see.”
She’s not the type to blab about buying land to a kid, so her reaction was expected.
Anyway, probing like that failed, so I’d have to try another approach.
What should I do?”